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-called mini cliffs, the big one, the debt ceiling, something he will have to deal with right away. >> when is the formal announcement of the nomination expected and another partisan fight down the road? >> very well could be. we have been trying to nail it down. all we have from sources is that it will happen sometime this week mptd not certain if that is tomorrow or friday or over the weekend but it will happen sometime this week. we have seen already in other nominations that the president has put forward that there has been a pushback from republicans and democrats to the nominee. unclear how the lew nomination will go. i think by all accounts everyone believes that he will be able to get confirmed. but there are concerns not only from wall street but all the way to main street that he doesn't have the experience needed to tackle the big challenges ahead. >> thanks for that. let's bring you in. timothy geithner being with the president from the beginning they have faced financial hurdles together. still facing that $16.4 trillion debt ceiling coming up. why is the white house so sure j
, doug. >> i want to point outgoing over the debt ceiling doesn't cut spending. the fact that the treasury doesn't have the money doesn't relief them of the obligation to spend it. it is the law of the land to spend the money. melissa: hang on, guys. hang on. we have to talk one at a time. what it actually says i'm not going to extend you anymore credit until you get your books in order. why should i give you more credit to spend when you haven't figured out how you're going to live within your means? why is that wrong, doug? >> that's right. in fact the fact that the you know, your teenager overspent their credit card doesn't mean you don't pay the bill. melissa: you say i will not raise the limit to get your act together. >> my point if you want to cut spending pass laws to cut spending. hitting debt ceiling doesn't do it. >> we have go different issues. one is the debt ceiling. the second is the sequester. doug is right, debt ceiling expiring doesn't automatically cut spending but the sequester does. cuts across the board manner, social security, medicare and medicaid
year choppiness and then you can settle in and do something once the debt ceiling debate is figured out and get some of the issues out of the way. >> we've lived in this environment for the last 18 months, one big disaster after another. everyone is waiting for the policy response, comes at the 11th hour and 59th minute. this is a pattern everyone has gotten used to but the fiscal cliff and the debt ceiling are the last big tail risks we think of the tail risks that we have to worry about, saw we would say once we get past that over the next several months we think it will lift a little bit of a cloud and investors will take risks. >> good to see you. >> good to see you. >> thanks so much for joining us. >> bob, thanks to you as well. ten minutes to go before we close it up. the dow jones industrial average holding on to a gain of 50 points. >> well, this herbalife soap opera is continuing. herb greenberg is coming up. all over the big move in the stock. take a look. up 3.25% right now. we'll show you what's behind it. >> and can you believe the iphone was only introduced five years ago
the ceiling debate came around. and if democrats want, the debt ceiling raise, they should have harry reid produce a budget. >> i don't mean to cut you off. but senator sessions is coming on this show later on. one last one. the boehner rule, you want to raise the borrowing rule i think it is sound fiscally and plitly. >> one to one seems equal right? >> but seems like this deal $41 in tax hikes per $1 in spending cuts with middle class taxes going up, i doubt that we are going to get that either. this president has made clear he not only wants the debt ceiling raised. let's not forget, he wanted the debt ceiling eliminated. that is the kind of negotiating that he is putting forward even though he said he is going to have to negotiate. that is what he said for a long time. if the gop plays his cards right and sticks to the spending see kwaester, i think that will put obama back think the defense. stick around. we have much more cooking for you. but look, i shothought obamacar was supposed to keep costs down. we are going to tell you why. later on, team obama going all out an gun control. i
something like that with the debt ceiling. then you could see something like that in june and 2014 doing the same stuff. >> i think the republicans will be much tougher on the debt ceiling. >> does that make you happy? >> it does. i want to see one dollar of entitlement cuts for every dollar the debt ceiling is raised. >> you're not normally this mean, this nasty. >> i'm with you and you inspire me. >> you know what, we are coming together somewhere in the middle. you know what we're doing in a word, two words, we're rising above, dude. you got your pen? get you a pen. we're rising above. where's yours? we'll get you one. >> byron, i want to go through some of your predictions. >> surprises. >> surprise predictions, surprises that could come up over the course of next year. you spend a lot of time trying to figure out what the market's doing and consensus is and where it could be taken off guards in some places. i want you to react. start with number 10, that eu structural problems we main unresolved. when i first heard that, i don't think they will be unresolved. you're right, the marke
people have. they wanted to raise that debt ceiling because, after sandy, as after katrina, the flood relief program was in deficit. this is not something that involves fraud, waste or abuse. >> clarence thank you for being here tonight. >> always a pleasure. >> we'll be right back. stay with us. the truth about mascara is... it clumps. introducing a revolutionary new mascara. clump crusher...crusher. 200% more volume. zero clumps. new clump crusher from easy, breezy, beautiful covergirl. but i'm still stubbed up. [ male announcer ] truth is, nyquil doesn't unstuff your nose. what? [ male announcer ] alka-seltzer plus liquid gels speeds relief to your worst cold symptoms plus has a decongestant for your stuffy nose. thanks. that's the cold truth! at legalzoom, we've created a better place to handle your legal needs. maybe you have questions about incorporating a business you'd like to start. or questions about protecting your family with a will or living trust. and you'd like to find the right attorney to help guide you along, answer any questions and offer advice. with an "a" rating
the problem. >> you heard the president, he said he will not negotiate over increasing the debt ceiling. you're saying despite whatever the business community thinks, you may have to push it to the brink once again? >> well, what we're saying here is the problem, the biggest problem confronting the country is our excessive spending. >> and even house speaker john boehner conceded in a recent interview with "the wall street journal," that the debt is one point of leverage but not the ultimate leverage. joining me now, ryan grim, it sounds to me, ryan like the republicans are listening to the president who has very simply been saying i will not negotiate with you over this. and they realize he means it. >> they do realize it -- that he means it. and they're also listening to the business class, which is saying look, enough of this. look what happened last time we went through this. and newt gingrich, you know, the rare voice of reason in the wilderness here said it eloqu t eloquentle, look, you're going the embarrass yourself, the entire fight is going to come to washington, everybody is goin
-- >> he's raiding, he's raiding. >> he's reinvestments right now to stave off default of the debt ceiling. >> greta: today has there been any discussions that you know of between the white house and capitol hill what to do about the debt ceiling or sequestration by the principals? >> not that i know of. right now we're seeing posturing that happens, republicans are saying that there has to be an equal number of spending cuts for every dollar the debt ceiling is raised and the white house making it clear their position, they're quote not going to negotiate on the death ceiling or held hostage. we're kind of at a stand still. >> greta: and i know you're reporter and comment, the idea that we're going to go broke in weeks, and no more money under stones and downgraded, and not able to meet our obligation, internationally and fact that the principals aren't talking and posturing is appalling. and any plans to, timothy geithner is going to be leaving before this is resolved as secretary? >> looks that way, looks like very soon to be an announcement, jack lew chief of staff to president obama w
with immigration, it has to deal with what one hopes gun issues, with the debt ceiling, they are their band is not broad enough for them to undertake another major examination of something where they will say, hey we just did that. let's see how it plays out. you also don't have a consensus right now. truth be told, i don't think the votes are there to revisit these issues. you have a republican block that wouldn't go for anything stronger and a lot of democrats that wouldn't be there. i don't think we will get new legislation. we may get rule making but another legislative effort i don't think that will happen. >> the think about the sec, something that has come out recentlied, the sec has asked for corporations to release how -- what their political activities are. >> it's funny, i have been calling on shareholders to make the same demand of corporations for many years. one of the things, in the last moment here, i think ownership trumps regulation. we own these through our pension funds, the endowments universally have shares, mutual funds which we invest
was in the senate to raise the debt ceiling. he voted against it once. he couldn't be bothered to show up for it twice. >> i want to ask you something quick. apparently one of your professors at harvard is now a u.s. senator from massachusetts. elizabeth warren. tell me about her class. you were telling me interesting things off camera about her class. it was among the most rigorous you took. >> yes. elizabeth warren was my contract law professor on my first day in my first class at law school. she was a good professor. i learned the subject very well. probably not as well as others did reflecting my grade. i knew that she was probably left of center based on her scholarship. that didn't affect her classroom teaching. i was a little bit surprised when she became an obama administration official and especially senate candidate just how far to the left she was. we sit on committees that'll be working together between the senate and house. >> did you say this was among the toughest classes you took? one of the most rigorous professors? >> no doubt. it'll be nice to meet her across the table
the debt ceiling. there is plenty of opportunity outside of threatening the full faith and credit of the united states to debate fundamental differences over or economic and fiscal policy proposals. it is not wise to do that around raising the debt ceiling. not right -- wise to do it around the principle that we pare debts. >> if i could ask about chuck hegel, one of the things he raised was the comments that he made about james hormel who came under fire by anti-gay groups. i am wondering, he made those comments 15 years ago and did not apologize for them until a month ago when it was clear he was in the running to be the secretary of defense. why that kind of delay? does she have to explain this comments -- does he have to explain his comments? >> he regretted them and they do not represent the totality of his use. -- his views. i would point you to the statement he made. and he will have -- senators will have an opportunity through the confirmation process, as they do traditionally and routinely, to ask him questions about his views on issues. the secretary of defense -- senato
likely is you can solve the debt ceiling issue and also save money? >> that will complete the depend on everybody coming to the table. we have the senate that things one thing in the house that thinks something different to. and tell there on the same page it is tough. the senate has not passed a budget in four years? it makes it difficult to do a budget agreement. so we have to get to the table. our hope is they will put out a budget. >> congressmen where should we cut spending? >> start with everything from 2007. we spend $1 trillion more per year than 2007 with a bunch of small items say why has this increased in five years' time? 2007 inflation-adjusted we would be almost in balance right now. we talk about 100 billion but we're at one point* $1 trillion. so get every single item whether it is free cell phones or in panama programs. gerri: is in the entitlement programs front and center where we should cut spending? how would you bring the president and democrats to the table? >> i have no idea. the president said that spending is not the problem. when we increase spending $1 tri
conciliatory than on, for example, dealing with budget issues, debt ceiling issues, the issues coming up in the short term here. jon: but he would also like to see a democratic majority in the house for the last two years of his term defying the odds on something like that? >> correct. so there are some political strategists around washington think that really the goal here is to isolate the republican majority in the house and hopefully get a democratic majority for the last two years of the obama term. that may be a long term goal. he is a democrat obviously. jon: is that so say politics is more important than progress in the country? >> that is the crazy part. you know we don't talk about it. president's ratings are pretty good right now. congress's ratings are in the toilet but the thing is, that the american people do want people who govern, people who will do something in washington, especially when it comes to the economy. it is time to get something done. i think that is the overwhelming results we see see in poll numbers, yet both sides are positioning if they're involved in pol
. they assigned it to themselves and they have to act without drama or delayed raise the debt ceiling. there is plenty of opportunity outside of threatening the full faith and credit of the united states. to date fundamental differences over our economic and fiscal policy proposals, but it is not why is -- of wise to do better on raising the debt ceiling or around the simple principle that we, the united states of america, pay our debt. >> let me talk about chuck hagel who is criticized today by cardin by a conservative here. in the mainstream of the democratic party in the senate. one of the things she raised is the comment chuck hagel made about james harnel. i'm wondering if you can help me understand. she made those comments 15 years ago and didn't apologize for them until a month ago it was clear that he was named secretary of defense. why is there that kind of a delay and did he explain why 50 years of those comments -- >> i think that senator chuck hagel was very clear that he thought those comments were not appropriate. he regretted them and they don't represent the to tell th
Search Results 0 to 16 of about 17 (some duplicates have been removed)